Gold & WTI Crude Oil Key Trading Levels – Trump Eases the Market - Forex News by FX Leaders

Gold & WTI Crude Oil Key Trading Levels – Trump Eases the Market

Posted Monday, April 9, 2018 by
Arslan Butt • 1 min read

On Friday, the commodity market remained supported after worse than expected US economic events. The US economy added fewer jobs than expected. In particular, the US NFP disappointed the market with 103K jobs in March 2018. Now, investors’ focus has shifted to the US inflation figures which are due to be released on Wednesday.

Over the weekend, US President Donald Trump foretold that China would take down its trade barriers. This was a show of confidence despite the escalating trade tensions between the world’s two largest economies that have troubled global markets over the past week.

Gold – XAU/USD – Trading Levels

Support     Resistance

1325.65      1348.49

1318.59      1355.55

1307.17      1366.97

Key Trading Level:    1337.07

WTI – Crude Oil – Trading Levels

Support     Resistance

61.72          64.48

60.87          65.33

59.49          66.71

Key Trading Level:    63.1

Stay tuned to our Forex trading signals as there is much action in the market today. Good luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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